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Free AccessTRY Assets Weather EUR/USD Storm Better Than ZAR & RUB
ZAR & RUB feeling the brunt of the sell-off in EUR/USD, while TRY seems less vulnerable - still trading on idiosyncratic factors with a short-term double bottom formed today at 7.8330.
- SA: 15.00 remains intact in USD/ZAR with little action in local rates to write home about.
- 15.10-15.1560 short-term resistance zone.
- Turkey: Interestingly, USD rates seeing some demand in the belly, despite overt aggression from Erdogan.
- Selling into the rallies still prevalent. Short-term resistance on USD/TRY at 7.8758 - 7.8950. {
- Russia: Weakness in Brent aiding the pullback higher in USD/RUB. 73.41-73.50 zone should act as short-term resistance
- most will be looking to sell into rallies here too.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.